IABH & HRBH

The matter before Watts J concerned property settlement orders between the Husband and Wife. The dispute centred on the division of assets and liabilities, including significant real estate holdings and business interests. The court was tasked with making final orders pursuant to section 79 of the *Family Law Act 1975* (Cth).

The court was required to determine the appropriate financial orders to be made between the parties, including the quantum of any payment to be made by the Husband to the Wife. This involved considering the disposition of various properties, including a villa, a property on M Street, and shops on G Street, and the application of proceeds from their potential sale. Furthermore, the court needed to address the Husband's indemnification of the Wife concerning liabilities arising from her past involvement with certain companies and trusts, as well as any guarantees she had signed.

Watts J ordered that the Husband pay the Wife a sum of $328,820 within 60 days. In default of this payment, the Husband was directed to sell the Villa, with the proceeds to be applied first to sale costs, then to discharge any mortgages, and then to satisfy the payment to the Wife with interest. If the Villa's sale proceeds were insufficient, the Husband was to sell the M Street property, with proceeds applied similarly. If both were insufficient, the Husband was to sell the G Street Shops, again with proceeds applied in the same order. The Husband was also ordered to indemnify the Wife against all past, present, and future liabilities related to her previous involvement in specified business entities and any guarantees she had signed, and to procure her discharge from such liabilities. Each party was to retain property in their possession, with specific provisions for bank accounts, superannuation, and insurance policies, and to indemnify the other against liabilities encumbering property they received. A Registrar was appointed to execute documents on the Husband's behalf if necessary to give effect to the orders.